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India’s Tech Mahindra shares slide on biggest profit drop in 16 years

By Kashish Tandon in Bengaluru

BENGALURU (Reuters) – Shares of Indian IT services company Tech Mahindra fell as much as 3.7% in early trade on Thursday, a day after the company posted its biggest profit drop in 16 years.

The company reported a 61.6% fall in its consolidated net profit for the September quarter, its worst performance since March 2007.

India's Tech Mahindra shares slide on biggest profit drop in 16 years
FILE PHOTO: Employees walk outside the cafeteria in the Tech Mahindra office building in Noida on the outskirts of New Delhi, India March 7, 2019. Picture taken March 7, 2019. REUTERS/Adnan Abidi/File photo